The inventory of Ureta-Reyes is to be increased by P4,000; an allowance fordoubtful accounts of P1,000 and P1,500 are to be set up in the books of Isada andUreta-Reyes, respectively; and accounts payable of P4,000 is to be recognized inIsada's books. The individual trial balances on August, before adjustments, follow:IsadaUreta-ReyesAssetsP75,000P113,000Liabilities5,00034,500What is the capital of Isada and Ureta-Reyes after the above adjustments?

Adjusted capital can be calculated by taking the unadjusted balance plus/minus give the effect of…

The inventory of Ureta-Reyes is to be increased by P4,000; an allowance doubtful accounts of P1,000 and P1,500 are to be set up in the books of Isada Ureta-Reyes, respectively; and accounts payable of P4,000 is to be recognizec Isada's books. The individual trial balances on August, before adjustments, follow Isada Ureta-Reyes Assets P75,000 P113,000 Liabilities 5,000 34,500 What is the capital of Isada and Ureta-Reyes after the above adjustments?

The inventory of Ureta-Reyes is to be increased by P4,000; an allowance doubtful accounts of P1,000 and P1,500 are to be set up in the books of Isada Ureta-Reyes, respectively; and accounts payable of P4,000 is to be recognizec Isada's books. The individual trial balances on August, before adjustments, follow Isada Ureta-Reyes Assets P75,000 P113,000 Liabilities 5,000 34,500 What is the capital of Isada and Ureta-Reyes after the above adjustments?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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